In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question
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Illawarra Credit Union Low Rate credit card

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Illawarra Credit Union Low Rate Credit Card
Terms and conditions apply
Purchase rate
8.99% p.a.
Annual fee for the first year ($50 p.a. thereafter)
$0 p.a.
Interest-free on purchases
Up to 45 days

Our verdict

Get a low 8.99% p.a. interest rate for your purchases and a $0 annual fee in the first year.

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Finder Awards winner
The Illawarra Credit Union Low Rate is a no-frills credit card with a very competitive 8.99% p.a. interest rate for purchases. You can also get up to 45 days interest-free on purchases if you pay your balance in full by the due date on each statement.

Pros

  • Low 8.99% p.a. interest rate on purchases and 15.88% on cash advances
  • $0 annual fee for the first year (reverts to $50 p.a.)
  • Compatible with Apple Pay, Google Pay and Samsung Pay

Cons

  • Charges a 3% foreign transaction fee
  • No rewards program and travel insurance

In this guide

  • Our verdict
  • Details
    • Product details
    • Eligibility
    • Rewards
    • Fees
  • How to apply
  • Card benefits
  • Rates & fees
  • Your reviews
  • Ask a question

The Illawarra Credit Union Low Rate credit card has simple account features and an annual fee of $50 that applies after the first year. It also offers contactless and mobile payments through Apple Pay, Google Pay and Samsung Pay.

Details

Product details

Product Name Illawarra Credit Union Low Rate Credit Card
Purchase rate p.a. 8.99%
Interest-free period Up to 45 days on purchases
Cash advance rate p.a. 15.88%
Min credit limit $500
Max credit limit $25,000

Eligibility

Available to temporary residents No

Rewards

Bonus points N/A

Fees

Annual fee $0 first year ($50 after)
Minimum monthly repayment 3% of the closing balance or $20, whichever is greater
Late payment fee $20
Foreign currency conversion fee 3%
Cash advance fee $2
Additional cardholder fee $0

Congratulations, Illawara Credit Union!

Illawarra Credit Union has won the 2024 Finder Award for Best Low Rate Credit Card, after being a finalist in 2023. It scored highly for its Low Rate Credit Card's 8.99% interest rate on purchases and $0 first-year annual fee. The $50 annual fee that applies after the first year is also competitive with other low rate credit cards on the market in Australia. As a credit union, it's owned by members and can pass on profits in the form of competitive products – including the Illawarra Credit Union Low Rate Credit Card.

Full list of 2024 winners

How to apply

You can apply for the Illawarra Credit Union Low Rate credit card online by filling in a secure application form. You can get started now by checking if you’re eligible to apply and have all the documents and details you’ll need for the application.

Eligibility criteria

  • Australian residency status. You must be an Australian citizen or permanent resident.
  • Age. You must be at least 18 years of age.

Card benefits

  • 8.99% p.a. on purchases. The purchase interest rate on this card is very competitive with other low-rate credit cards.
  • $0 first-year annual fee. You won’t have to pay an annual fee for the first 12 months you have this card. After that, an annual fee of $50 applies.

Rates & fees

  • Annual fee. Outside of any promotions, this card has an annual fee of $50. This is charged each year around the anniversary date of opening the account.
  • Cash advance rate. If you use this card to withdraw cash or make any other cash advance transactions, an interest rate of 15.88% p.a. will apply from the date of the transaction.

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Amy Finder

Editor

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